Hennessy Advisors Inc. Has $15.50 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Hennessy Advisors Inc. lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,490 shares of the utilities provider's stock after purchasing an additional 4,900 shares during the period. Hennessy Advisors Inc.'s holdings in Public Service Enterprise Group were worth $15,503,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PEG. Hennion & Walsh Asset Management Inc. lifted its position in shares of Public Service Enterprise Group by 0.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 42,728 shares of the utilities provider's stock worth $3,610,000 after buying an additional 212 shares during the last quarter. RMR Wealth Builders raised its stake in shares of Public Service Enterprise Group by 2.1% in the 4th quarter. RMR Wealth Builders now owns 16,980 shares of the utilities provider's stock valued at $1,435,000 after acquiring an additional 356 shares in the last quarter. USA Financial Formulas acquired a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $1,116,000. Apella Capital LLC boosted its position in Public Service Enterprise Group by 5.8% during the fourth quarter. Apella Capital LLC now owns 5,274 shares of the utilities provider's stock worth $446,000 after purchasing an additional 291 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in Public Service Enterprise Group by 4.3% during the fourth quarter. Park Avenue Securities LLC now owns 26,020 shares of the utilities provider's stock valued at $2,198,000 after purchasing an additional 1,065 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock traded down $0.28 on Friday, hitting $88.20. The company's stock had a trading volume of 2,714,176 shares, compared to its average volume of 1,757,952. The company has a fifty day moving average price of $87.70 and a 200-day moving average price of $84.36. The firm has a market cap of $43.94 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.81 and a beta of 0.65. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.72%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio is 58.97%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PEG. Guggenheim restated a "buy" rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. Barclays dropped their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. UBS Group increased their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Finally, Scotiabank lifted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.17.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares of the company's stock, valued at $2,271,660.55. The trade was a 18.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company's stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock worth $722,037 over the last three months. Company insiders own 0.18% of the company's stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.